2011 (4) TMI 350 - HC - Central Excise

Interest on delayed refund - Rate of interest - Department is paying interest @ 6% on the refund amount as per Section 11BB of Central Excise Act, 1944. According to the petitioner, the refund must be paid with interest @ 13% as per Notification No. 66/2003-C.E.(N.T.) dated 12-9-2003 - The said Notification deals with the interest payable by a party to the revenue and not other way round - Petition is dismissed

Summary

The Bombay High Court dismissed a petition challenging the payment of interest at 6% on a refund amount under Section 11BB of the Central Excise Act, 1944. The petitioner argued for interest at 13% as per Notification No. 66/2003-C.E.(N.T.). The court cited a previous Supreme Court case and rejected the petition with no costs.